ING Groep NV Takes $1.65 Million Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

ING Groep NV acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,200 shares of the company's stock, valued at approximately $1,649,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC grew its holdings in shares of Nexstar Media Group by 830.3% during the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after purchasing an additional 274 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Nexstar Media Group by 62.3% in the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock worth $72,000 after buying an additional 154 shares in the last quarter. Versant Capital Management Inc grew its holdings in Nexstar Media Group by 2,126.3% in the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company's stock worth $76,000 after buying an additional 404 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in Nexstar Media Group by 186.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock worth $81,000 after buying an additional 295 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Nexstar Media Group by 68.6% in the 1st quarter. UMB Bank n.a. now owns 536 shares of the company's stock worth $96,000 after buying an additional 218 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Activity at Nexstar Media Group

In other news, EVP Rachel Morgan sold 329 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $54,367.25. Following the completion of the sale, the executive vice president owned 2,122 shares in the company, valued at approximately $350,660.50. This represents a 13.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Weitman sold 510 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $84,277.50. Following the sale, the insider owned 8,229 shares of the company's stock, valued at $1,359,842.25. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,474 shares of company stock worth $3,666,988. 6.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NXST has been the subject of a number of recent analyst reports. Barrington Research reissued an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday, July 30th. Wells Fargo & Company decreased their price objective on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Benchmark decreased their price objective on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $205.71.

Nexstar Media Group Price Performance

NASDAQ NXST traded down $2.47 on Thursday, reaching $184.52. 466,053 shares of the stock traded hands, compared to its average volume of 277,016. The firm's fifty day simple moving average is $178.01 and its 200 day simple moving average is $167.33. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 1.34 and a beta of 1.05. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $194.00.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.95 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted $3.54 EPS. As a group, research analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, August 15th. Nexstar Media Group's dividend payout ratio is 37.69%.

Nexstar Media Group Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.